Contractor-Proposed Value Engineering occurs when by changing its materials, means, methods, or schedule, a contractor can offer “Value Engineering” cost savings that it will share with the Client. The Consultant of Record will likely be asked to review the proposed...
Insurance Certificates are provided by the insurance broker to verify that the contract insurance requirements will be met. Contracts usually require that the certificate state that the certificate holder (Client) be notified by a specified number of days prior to...
Notice to Proceed (NTP) is the Client’s official notification to the Consultant that the design may begin. NTP is frequently given with the transmittal of the contract when executed by the Client. The NTP should include the specific date on which it is issued, thus...
Contract Signatory Requirements addresses the person signing the contract having authority to sign and thereby bind the entity entering the contract. Some Clients require a letter from the Corporate Secretary, bearing the corporate seal, stating that the person...
Contingent Fee Contracts for professional design services are ones in which payment to the Consultant for his or her service is dependent on the actions of an entity other than the Client. A Client may attempt to tie payment of a Consultant’s fee to receipt of a...
Budget is the term applied in reference to the amount of money available for payment to the Consultant. The term “cost” when used in connection with a budget usually refers to the amount of money available to pay for labor (salaries, wages, and overhead related...
